Perkins’ Parent Company Files for Bankruptcy
The parent company of Perkins and Marie Callender's has filed for Chapter 11 bankruptcy. There have already been so many Perkins locations closing and that number is bound to go up.
Restaurant Business writes that "the company, which owns or holds the franchise rights to 400 restaurants, has agreed to sell Perkins to a stalking horse company, Perkins Groups, for an amount not disclosed in the court documents." The court documents also state that they are planning on closing more Perkins and Marie Callender locations.
This bankruptcy announcement comes a day after they closed 29 Perkins and Marie Callender locations, one of the Perkins locations being in Janesville, WI. The parent company said in a statement that 19 of the locations that closed Sunday were Marie Callender's and 10 were Perkins locations.
USA Today reports that "the company said its 'continuing discussions with investors and potential buyers regarding the Marie Callender’s restaurants.'”